Recent trade action has largely been absent from some of the latest government reports, but one industry official warns consumers will likely feel the impact in the coming months.
The Chief Executive at Omaha Steaks warns consumers might see their beef costs begin to increase around the third quarter, which is typically around July, August, and September, prime grilling season. He tells Fox Business the impact will likely happen over time.
10 percent of global tariffs kicked in earlier this month, including beef imports from suppliers in Australia, Brazil, and New Zealand.
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Total red meat supplies were up 4 percent from March but down 4 percent from April 2025.
Year-to-date red meat production is down 2 percent, with beef lower and pork higher.
For producers, demand is strong, but drought, disease, and costs still shape supply.
European officials say the temporary move is aimed at easing pressure on farmers as conflict in the Middle East disrupts fertilizer markets.
